International Game Technology (IGT) Reaches New 1-Year Low at $13.23

Shares of International Game Technology PLC (NYSE:IGT) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $13.23 and last traded at $13.28, with a volume of 181259 shares changing hands. The stock had previously closed at $13.44.

Several brokerages recently issued reports on IGT. Susquehanna Bancshares began coverage on International Game Technology in a report on Friday, December 7th. They issued a “positive” rating and a $22.00 price target for the company. ValuEngine raised shares of International Game Technology from a “strong sell” rating to a “sell” rating in a research report on Monday, November 26th. SunTrust Banks raised shares of International Game Technology from a “hold” rating to a “buy” rating in a research report on Wednesday, January 9th. Argus decreased their price objective on shares of International Game Technology from $28.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, November 16th. Finally, Jefferies Financial Group set a $29.00 price objective on shares of International Game Technology and gave the company a “buy” rating in a research report on Thursday, December 20th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company. International Game Technology currently has a consensus rating of “Buy” and an average price target of $23.64.

The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.00 and a current ratio of 1.14. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of 13.54, a PEG ratio of 1.10 and a beta of 1.36.

International Game Technology (NYSE:IGT) last posted its quarterly earnings data on Thursday, March 7th. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.11). The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.27 billion. International Game Technology had a negative net margin of 0.44% and a positive return on equity of 7.64%. The business’s quarterly revenue was down 5.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.02 earnings per share. On average, analysts anticipate that International Game Technology PLC will post 1.22 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 4th. Shareholders of record on Thursday, March 21st will be given a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, March 20th. This represents a $0.80 dividend on an annualized basis and a yield of 6.03%. International Game Technology’s payout ratio is currently 81.63%.

Several hedge funds have recently modified their holdings of the company. Marshall Wace North America L.P. lifted its position in shares of International Game Technology by 41.3% during the third quarter. Marshall Wace North America L.P. now owns 5,747,367 shares of the company’s stock worth $113,510,000 after purchasing an additional 1,680,947 shares during the last quarter. Samlyn Capital LLC lifted its position in shares of International Game Technology by 29.0% during the fourth quarter. Samlyn Capital LLC now owns 5,348,778 shares of the company’s stock worth $78,252,000 after purchasing an additional 1,202,082 shares during the last quarter. Rubric Capital Management LP lifted its position in shares of International Game Technology by 65.9% during the third quarter. Rubric Capital Management LP now owns 3,850,000 shares of the company’s stock worth $76,038,000 after purchasing an additional 1,530,000 shares during the last quarter. Jennison Associates LLC lifted its position in shares of International Game Technology by 21.4% during the third quarter. Jennison Associates LLC now owns 1,900,091 shares of the company’s stock worth $37,527,000 after purchasing an additional 334,822 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of International Game Technology by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,878,449 shares of the company’s stock worth $27,481,000 after purchasing an additional 6,641 shares during the last quarter. 47.76% of the stock is currently owned by institutional investors and hedge funds.

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International Game Technology Company Profile (NYSE:IGT)

International Game Technology PLC operates and provides technology products and services across lotteries, electronic gaming machines, sports betting, and interactive gaming markets worldwide. The company operates through: North America Gaming and Interactive, North America Lottery, International, and Italy segments.

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